×
You will be redirected back to your article in seconds

ProSiebenSat.1 Looks to Offload or Find Partner for Red Arrow Studios

German media giant ProSiebenSat.1 has launched another strategic review of its Red Arrow Studios and is looking to sell or set up an industry partnership for the unit’s international production and distribution business. Red Arrow Studios comprises 20 production companies which span Europe and the U.S. and which make dramas such as Amazon’s “Bosch” and unscripted series like “Married at First Sight.” It also has a sales arm that is a perennial presence at Mipcom and the major TV markets.

Variety has confirmed that ProSiebenSat.1 is not committed to a full sale of Red Arrow but is open to various outcomes. It is testing the waters with potential investors and partners, and has brought in investment bank Morgan Stanley to handle the process.

The unit’s domestic production business and the digital operation are not part of the new review process. ProSiebenSat.1 had conducted an earlier strategic review to decide the company’s direction, at which point management ruled out a full disposal of Red Arrow Studios. That strategy has changed under Max Conze, who joined as CEO last year. James Baker also stepped up to CEO at Red Arrow Studios in 2018, amid a period of staff turnover at the producer-distributor.

The content business has been turning in decent numbers for ProSiebenSat.1 in recent months, with revenues and profits rising in its latest results.

With Endemol Shine seemingly still looking for suitors, some of Europe’s best-known big production houses could soon find themselves with new owners. At the same time, new players such as the German-based film and TV production and distribution business backed by KKR are emerging.

Former Sky exec Baker, speaking to Variety in July, said Conze had tasked Red Arrow with working more closely with ProSiebenSat.1’s portfolio of channels. “There has been a step-change in the last year since Max came on board where he has been saying, ‘How do we get a lot closer to our channel partners at ProSieben and Sat.1 and start to work on making more non-scripted?’ Red Seven, our main German producer, will make a lot more shows for those German channels,” Baker said.

German website DWDL.de was first to report the news of a potential Red Arrow sale. It said that investors have until mid-September to register initial expressions of interest.

More TV

  • MAKING IT -- Season: 1 --

    TV News Roundup: NBC Announces 'Making It' Season 2 Premiere Date

    In today’s TV news roundup, NBC announced the “Making It” Season 2 premiere date and HBO Max greenlit a new docuseries from Brad Goreski and Gary Janetti. DATES Hosts Amy Poehler and Nick Offerman will return with the second season of “Making It” on NBC Dec. 2. After the show’s holiday season premiere, the show [...]

  • Luis Fonsi Erika Ender Latin Grammys

    The Second Latin Explosion: How 'Despacito' Ushered in a New Generation of Stars

    Music is an ever-evolving art, and for the Latin Recording Academy, that’s meant riding multiple waves of attention. The most recent arrived with the stratospheric success of “Despacito,” which kicked off a second Latin Explosion with full force in 2017. The Luis Fonsi and Daddy Yankee hit, later featuring verses by Justin Bieber, made Latin [...]

  • TV Review: 'Catherine the Great' Starring

    TV Review: 'Catherine the Great' Starring Helen Mirren

    For some, “Dame Helen Mirren playing the Catherine the Great” is all the convincing they’ll need to watch this new biographical limited series, which is perfectly understandable. The casting of Mirren in the role, which follows the Russian empress in the embattled latter years of her life, is a smart choice that proves its worth [...]

  • Ricky Martin Celia Cruz Gloria Estefan

    From Idea to Legacy: Latin Grammy Awards Mark 20 Years of Global Recognition

    The idea of creating a separate organization to honor the diversity of Latin music was a discussion that took place for years before it actually happened, but an event driven by one of pop music’s most important crossover artists solidified it. During the 41st Grammy Awards ceremony, a young Ricky Martin was scheduled to perform [...]

  • Science Fair

    Disney Plus Fleshes Out Nonfiction Slate, Including 'Howard,' 'Science Fair,' Mickey Mouse Docu

    Disney Plus further fleshed out its nonfiction content slate at an International Documentary Association showcase event Friday, as the streamer, preparing for its Nov. 12 launch, continues to flesh out its programming strategy. Among the announcements: The streamer has acquired the global distribution rights to “Howard,” the Don Hahn-directed documentary about “Aladdin” and “Beauty and [...]

More From Our Brands

Access exclusive content